Gold sits. Bitcoin swings. Real estate pays me to hold it. Ray Dalio says skip real estate. His reasons: Interest-rate sensitivity Easy to tax “Nailed down” The problem? Those are half-truths at best. Rates? They go up, they go down. If you’re buying in a high-rate environment, the next big move could be your friend, not your enemy. And while values might wobble, rents tend to creep upward in inflationary times — which is what pays the bills. Taxes? Sure, you can’t hide a building in the Caymans. But you also get depreciation, incentives, and in some states, rock-bottom property taxes. Net returns matter more than tax headlines. Illiquidity? That’s often the point. You can’t panic-sell an apartment complex the way you can dump gold or Bitcoin. Sometimes being nailed down keeps you from doing something stupid. Dalio’s gold pays nothing. His Bitcoin pays nothing and swings like a drunk on a tightrope. A well-bought property throws off cash, can be improved, and rents can be raised. That’s a business — not a rock or a token you stare at while hoping the price goes up. Different assets for different goals. But if your goal is long-term, inflation-adjusted income, real estate still wins — even in the scary macro stories. https://lnkd.in/eYyB_JnQ